The definition of Marketing

Essay by ltabizonUniversity, Bachelor'sA+, July 2006

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I believe the definition of Marketing is the all-embracing functions that link a company with customers' tastes to get the right product to the right place at the right time in the most cost effective manner. KHE describes Marketing as the occupation that consists of individual and organizational activities that facilitate and expedite the satisfying exchange relationships in a dynamic environment through the creation, distribution, promotion, and pricing of goods, services, and ideas. defines Marketing as finding out what customers want, then setting out to meet their needs, provided it could be done at a profit.

Marketing includes lots and lots of market research, deciding on products and prices, advertising promoting distributing and selling. An understanding of Marketing is important for success in all business fields and occupations. Rapid technological innovations have continued to change human needs and allowed organizations like Wal-Mart and Target to provide millions of goods and services to consumers at an affordable prices.

All organizations whether in the industry to provide services or products for businesses or for nonprofit, such as churches or charities, must engage in some type of Marketing activities. Marketing departments in companies like these have been instrumental in creating such innovative ideas and bringing them to the market at the right times and the right prices. Career opportunities in Marketing are virtually unlimited. Marketing is critical for the survival of any business because it is what drives, creates, manages and sustains the major revenue-generating functions that allow firms like Wal-Mart to grow and succeed. states "market orientation is the extent to which firm's strategic thinking stems from looking outwards to consumer tastes and competitive pressures." One alternative is to use production orientation, where a firm looks inward to its own production needs and limitations and finds where it could cut...